India’s newly hiked interest rates may slow down the auto industry’s recovery ...Middle East

The surprise hike in lending rate by India’s central bank yesterday (May 4) spells trouble for the auto industry recovering from a covid-triggered slump.“When compared with April 2019, total vehicle retail was down by -6%…This move [by RBI] will apply brakes and dampen the sentiments further,” according to a release from the Federation of Automobile Dealers Associations (FADA), an industry body.Automobile makers recorded zero sales in April 2020 during India’s covid lockdown. A global chip shortage due to supply constraints hit sales, too. Then came the Russia-Ukraine war and another lockdown in China.Read the rest of this story on qz.com. Become a member to get unlimited access to Quartz’s

Hence then, the article about india s newly hiked interest rates may slow down the auto industry s recovery was published today ( Thursday 05/05/2022 - 08:28 AM ) and is available on Quartz ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

Read More Details
Finally We wish PressBee provided you with enough information of ( India’s newly hiked interest rates may slow down the auto industry’s recovery )

Also on site :

• Instinct Science Acquires ScribbleVet to Deliver the Next Generation of Intelligent-Native Veterinary Practice Management Software
• Allwyn Completes Acquisition of Majority Stake in PrizePicks
• Here’s who is likely to profit from Trump’s Venezuela takeover